Global Temperature Controlled Packaging for Pharma
Global Temperature Controlled Packaging for Pharmaceutical Market Size Expanding to Cross USD 21 Billion by 2028
Published | 02 November 2022
Global temperature controlled packaging for pharmaceutical market is flourishing due to rising demand for more advanced temperature controlled packaging techniques owing to the need for efficient temperature control of sensitive pharmaceutical products.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, forecasts the size of global temperature controlled packaging for pharmaceutical market to grow at an impressive CAGR of 10.6% between 2022 and 2028. The market size is expected to reach a value of USD 21.08 billion by 2028. Maintaining blood or vaccines requires temperature-controlled solutions. Pharmaceutical companies use cold chain solutions in this context to meet rising patient demand and the emergence of lifestyle diseases. The packaging options are made to keep desired temperature throughout the supply chain. Strict regulations that aim to improve pharmaceutical product distribution methods drive the market growth. Programs for improving packaging processes through research and development could aid the expansion of global temperature controlled packaging for pharmaceutical market size. Drugs and vaccines that must maintain specific electromechanical or electronic temperatures are shipped along with supporting logs that show how they were stored properly. The creation of novel medications and treatments may increase the need for cold-chain logistics.
Global Temperature Controlled Packaging for Pharmaceutical Market – Overview
Product protection, identification, information, and containment are all provided by temperature-controlled packaging techniques during storage, transportation, and up until the product is consumed. The demand for more sophisticated temperature controlled packaging techniques has increased because of the increased need for effective temperature control of delicate pharmaceutical products. Medicines that are delivered, such as insulin or cancer treatments, need to be kept at a constant temperature to keep them stable. These medications can be easily transported to specific locations in temperature-controlled packaging, preventing any negative external effects.
The development of temperature-controlled packaging containers considers sustainability. They are being developed to reduce risks associated with delivering subpar products and to adhere to quality standards by limiting carbon dioxide emissions. Digital technologies are being incorporated by logistics companies to track and monitor their products. For instance, Softbox and Pfizer collaborated on the supply and distribution of COVID-19 vaccines using a reusable ultra-low temperature insulated shipper.
Global Temperature Controlled Packaging for Pharmaceutical Market – Technology Advancements
Pharmaceutical companies concentrate more on developing treatments and medications for rare diseases, which is expected to spur the demand for temperature-controlled packaging solutions. The development of vaccines for rare diseases, including blood diseases, is generating profits for major players in the pharmaceutical industry. Increasing public support, expanding government programs, and encouraging businesses to create orphan drugs for the world's rare diseases. Additionally, a rise in newly developing markets and new strategic alliances will act as market catalysts and expand beneficial opportunities for the market's growth rate. Global temperature controlled packaging for pharmaceutical market has segments, such as Insulated Shippers, Insulated Containers, and Refrigerants by products; Active Systems and Passive Systems based on type; Less than 10°C, 10°C to 20°C, and More than 20°C by temperature range; Single and Reuse based on usability; Vaccine, Temperature Sensitive Pharmaceutical Drugs, Regenerative Medicine, Clinical Trial, and Biopharma based on application. Temperature sensitive pharmaceuticals segment is projected to dominate global temperature controlled packaging for pharmaceutical market, accounting for most of the market share.
Manufacturers are producing environmentally friendly and reusable packaging. In the transition to environmentally friendly technologies and the use of renewable plant-based materials, several manufacturing players are developing innovative products. For instance, in October 2019, GWP Group, a specialist in eco-friendly packaging and materials handling, launched a new returnable packaging system for corrugated boxes. In September 2019, CBS Packaging set up a new state-of-the-art 2.5m BHS Corrugator, at a fully integrated plant in Birmingham.
Impact of COVID-19 on Global Temperature Controlled Packaging for Pharmaceutical Market
For manufacturers of temperature controlled packaging solutions in the pharmaceutical industry, the COVID-19 pandemic created a lucrative opportunity. Guidelines established by health organizations for the preservation of vaccines and drugs led to the development of containers and shippers capable of preserving the integrity of the vaccine despite the container being exposed to ambient temperatures. Dry ice has been used to maintain the thermal temperature of delicate vaccines.
Prominent players in global temperature controlled packaging for pharmaceutical market include Softbox Systems, FedEx Corporation, Sofrigam SA, Envirotainer AB, DGP Intelsius GMBH, Sonoco Products Company, Mondi Group, Pelican Biothermal, Cold Chain Technologies, Snyder Industries, Americk Packaging Group, H.B. Fuller Company, Va-Q-Tec AG, Inmark, LLC, United Parcel Service, Inc., and AmerisourceBergen Corporation. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global temperature controlled packaging for pharmaceutical market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Temperature Controlled Packaging for Pharmaceutical Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Temperature Controlled Packaging for Pharmaceutical Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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